Thursday, November 10, 2011

There is no there there (in the Republican debates)

Watch them if you like gossip: Rick Perry having a senior (or alcoholic or drug) moment e.g.

But, there is no reality there: see the fact check on last night's debate. What they're saying is phoney baloney, meant to get cheers from their Yahoo audience.


  1. You call a NY Times' reporter's opinion as a "fact check"? Not exactly the most non-partisan of sources, is it? Fannie Mae wasn't "late to the party". During the height of the housing bubble in 2005/2006, they were buying substantial amounts of subprime loan. Just read their 10-K's. (And Freddie Mac's too)

  2. Yes, I believe that a reporter for the Times can write a non-partisan fact check. Last I heard, the Times was a generally fair and unbiased newspaper -- considered by many to be among the best in the world. I'm sorry if you disagree, but you are free to read other newspapers and/or blogs. I will continue to quote the Times as an authoritative source -- as well as (occasionally) the Wall Street Journal when they present facts and figures that make sense to me.

    This particular fact check didn't say the the Macs didn't speculate in SPMs, and the 10-K's you refer to reflect that. That still leaves completely plausible the statement that they were neither the major instigators nor players. Remember, doing something at the "height" of a bubble means you are probably a Johnny-come-lately and more a victim than perpetrator. In any case, I hardly hold the Macs blameless, but they didn't cause the meltdown.

  3. They were the largest buyers of subprime mortgages during the peak of the bubble.